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Earnings Per Share Reconciliation
12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share Reconciliation
16.
EARNINGS PER SHARE RECONCILIATION
Basic earnings per common share are computed by dividing income allocated to common stockholders by the weighted-average number of common shares outstanding during each period. The computation of diluted earnings per common share considers the number of shares issuable upon the assumed exercise of outstanding common stock options. Antidilutive common shares are not included in the calculation of diluted earnings per common share. For the years ended December 31, 2019, 2018 and 2017, shares deemed to be antidilutive, and thus excluded from the computation of earnings per common share were 183,000, 160,000 and 9,000, respectively.
The table below shows earnings per common share and diluted earnings per common share, and reconciles the numerator and denominator of both earnings per common share calculations.
 
Year Ended December 31,
 
 
2019
 
 
2018
 
 
2017
 
 
(In thousands, except per share amounts)
 
Earnings per common share:
 
 
 
 
 
 
 
 
 
Net earnings
  $
   207,827
    $
   152,003
    $
   104,411
 
Less: Net earnings allocated to restricted stock
   
488
     
429
     
382
 
   
 
 
   
 
 
   
 
 
 
Net earnings allocated to common shareholders
  $
 207,339
    $
 151,574
    $
 104,029
 
                         
                         
Weighted average shares outstanding
   
139,757
     
121,670
     
109,409
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic earnings per common share
  $
 1.48
    $
1.25
    $
0.95
 
                         
                         
Diluted earnings per common share:
 
 
 
 
 
 
 
 
 
Net income allocated to common shareholders
 
$
 207,339
   
$
 151,574
   
$
 104,029
 
                         
                         
Weighted average shares outstanding
   
139,757
     
121,670
     
109,409
 
Incremental shares from assumed exercise of outstanding options
   
177
     
287
     
398
 
   
 
 
   
 
 
   
 
 
 
Diluted weighted average shares outstanding
   
139,934
     
121,957
     
109,807
 
Diluted earnings per common share
  $
 1.48
    $
1.24
    $
0.95